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Maryland Mortgage Calculator

Your monthly mortgage payment in Maryland, with Maryland's effective property tax rate (0.97%) built in, at this week's average rate. The calculator starts at the state's median home value, $419,900.

A $420,000 home with 20% down ($336,000 borrowed) at 7.28% over 30 years costs about $2,807 a month: $2,299 principal and interest plus $508 of tax, insurance and dues.

Monthly payment
$2,806.87
Principal and interest
$2,298.95
Tax, insurance, PMI and HOA
$507.92
Total interest over the loan
$491,623
Loan balance and interest paid over 30 years at 7.28%$0$100k$200k$300k$400k$500k051015202530Years━Balance owed━Interest paid so far
Download the schedule (CSV)
Amortization by year: $336,000 at 7.28%
YearInterestPrincipalBalance
1$24,354.34$3,233.10$332,766.90
2$24,110.95$3,476.49$329,290.41
3$23,849.25$3,738.19$325,552.21
4$23,567.84$4,019.60$321,532.61
5$23,265.25$4,322.19$317,210.42
6$22,939.88$4,647.56$312,562.86
7$22,590.01$4,997.43$307,565.43
8$22,213.81$5,373.63$302,191.81
9$21,809.29$5,778.15$296,413.66
10$21,374.32$6,213.12$290,200.54
11$20,906.60$6,680.84$283,519.70
12$20,403.68$7,183.76$276,335.94
13$19,862.89$7,724.55$268,611.39
14$19,281.40$8,306.04$260,305.35
15$18,656.13$8,931.31$251,374.04
16$17,983.79$9,603.65$241,770.39
17$17,260.83$10,326.60$231,443.78
18$16,483.46$11,103.98$220,339.80
19$15,647.56$11,939.88$208,399.93
20$14,748.74$12,838.70$195,561.23
21$13,782.26$13,805.18$181,756.05
22$12,743.02$14,844.42$166,911.64
23$11,625.55$15,961.89$150,949.75
24$10,423.96$17,163.48$133,786.27
25$9,131.91$18,455.53$115,330.74
26$7,742.60$19,844.84$95,485.90
27$6,248.70$21,338.74$74,147.16
28$4,642.34$22,945.10$51,202.06
29$2,915.06$24,672.38$26,529.69
30$1,057.75$26,529.69$0.00

This week's mortgage rates →

Monthly payment in Maryland by home price (20% down, 7%, 30 years, 0.97% tax, $2,000 insurance)

Home pricePrincipal and interestProperty taxTotal
$210,000$1,118$171$1,455
$310,000$1,650$252$2,068
$420,000$2,235$341$2,743
$630,000$3,353$512$4,032
$840,000$4,471$683$5,320

How this calculator works

As the mortgage calculator, with Maryland's effective property tax rate from the Census Bureau's American Community Survey 2020–2024 5-year estimates: median taxes $4,093 ÷ median value $419,900.

What it assumes

  • Home insurance varies a lot by state and area; enter your quote.
  • County property tax rates differ from the state figure; see the county pages.

Questions people ask

What is the mortgage payment on a median home in Maryland?

On $419,900 with 20% down at 7% over 30 years: about $2,235 principal and interest and $341 of property tax, $2,743 a month with $2,000 a year of insurance.

What is the median home value in Maryland?

$419,900 for owner-occupied homes (Census American Community Survey 2020–2024 5-year estimates), against $332,700 nationally.

How much is property tax in Maryland?

The effective rate is 0.97%, a median $4,093 a year. See Maryland's property tax page for every county we cover.

How much income do I need for a median Maryland home?

Under the 28% guideline, about $117,545 a year for the payment above; Maryland's median household income is $103,678.

Mortgage calculator by state

Related calculators

  • Mortgage CalculatorYour full monthly mortgage payment: principal and interest, property tax, insurance, PMI and HOA dues, at this week's average rate, with a yearly amortization schedule.
  • Maryland Property Tax CalculatorMaryland homeowners pay a median $4,093 a year in property tax, 0.97% of a median $419,900 home: the 22nd highest effective rate of the 50 states and DC.
  • Home Affordability CalculatorThe home price your income supports under the 28/36 guideline lenders use, counting your other debts, down payment, taxes and insurance, at this week's average rate.

Sources

Updated by the RateHerald team. The maths is tested against worked examples; report a problem.